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Judgment
Hon''ble B.S. Verma, J.—Heard Mr. Shobhit Saharia, Advocate, learned counsel for the appellant. This appeal u/s 37(1) of the Arbitration and Conciliation Act, 1996 is directed against the judgment and order dated 9-8-2012, passed by the District Judge, Dehradun the objection which was filed by the appellant u/s 34 of the Act was partly allowed and partly rejected and the impugned award passed by the learned Arbitrator awarding compensation for the period from June 2003 to 6-5-2004 amounting to Rs. 9,00,000/- and awarding Rs. 1,00,000/- as expenses for litigation has been set aside as well as awarding of interest @ 12% per annum on the security deposits amounting to Rs. 2,00,000/- has also been set aside. Rest of the award has been confirmed. It has also been ordered that the contractor shall also be entitled to pendente lite and future interest @ 6% per annum as awarded by the learned Arbitrator along with costs of Rs. 2,00,000/-. Accordingly the award passed by the Arbitrator has been modified.
Learned counsel for the appellant has contended that the learned Arbitrator has exceeded his jurisdiction in allowing the claim of the contractor-respondent and also mis-conducted himself in the proceedings and also awarded the claim against the terms and conditions of the contract agreement. Learned counsel for the appellant also contended that the learned District Judge has also not considered the contract agreement clause in letter and spirit and the clause of contract agreement has been interpreted in his own way.
Admit the appeal. Issue notice to the respondent.
Summon the lower court record of the proceedings.
List this appeal after LCR is received.
Also heard on interim relief application.
If the appellant deposits the entire awarded amount either in cash or by way of bank guarantee within a period of three months with the Registry of this Court, the execution of the award as modified by the District Judge, Dehradun shall remain stayed. It is made clear that the executing Court can only proceed with the execution if the awarded amount is not deposited within the stipulated period, as directed by this Court. A certified copy of this order be issued to the learned counsel for the appellant by tomorrow (8-11-2012).